Flex Property with Large
2311 SPRING AVENUE SW, Decatur, AL 35601
For Sale
New
$225,000
Commercial Sale, DECATUR, AL
Property Size2,400 SF
Lot Size0.89 Acres
Price / SF$93.75
Days on Market5
Property Features for 2311 SPRING AVENUE SW
General Information
Property type
Property subtype
Zoning
Bathrooms
Full bathrooms
Rooms
Parking features
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Water source
Amenities
dedicated storage room
finished office space
private closet
full bathroom
area suitable for kitchenette
Building Details
Floors in Building
Flooring type
Building materials
Roof type
Listing Agency:
MeritHouse Realty
(256) 822-0010
Listed By:
Jamie Reeves · License #106801
(256) 565-2560
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 7 at 2:06AM
MLS# 21933247
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This flex property includes a 40-by-60-foot garage, a separate storage room and finished office space. The office has a private closet, a full bathroom and a designated area for a kitchenette. The building contains 2,400 square feet on a 0.89-acre parcel.
Block construction, a metal roof, concrete flooring, driveway parking and a public water source are among the property's physical features. Zoning is residential.
Block construction, a metal roof, concrete flooring, driveway parking and a public water source are among the property's physical features. Zoning is residential.
Key Highlights
- 40‑by‑60‑foot garage
- 2,400‑square‑foot property on a 0.89‑acre parcel
- Finished office with private closet, full bathroom and kitchenette area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,419
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,380
$288.4K
Cap Rate 7%
$205,986
$206.0K
Cap Rate 9%
$160,211
$160.2K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$23.9K $9.96/SF
− Vacancy
−$1.7K −$0.72/SF
EGI
$22.2K $9.24/SF
− OpEx
−$7.8K −$3.24/SF
NOI
$14.4K $6.01/SF
Area
Morgan County, AL
Vacancy
7.20%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,380
Cap Rate 7%
$205,986
Cap Rate 9%
$160,211
Alternative Uses
Best Use
Flex RnD
$206.0K
$180.2K – $240.3K
NOI $14,419 @ 7.0% cap · market cap 6.41%
Second Best
Industrial
$175.0K
$153.2K – $204.2K
NOI $12,252 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$499.3K
$436.9K – $582.5K
NOI $34,952 @ 7.0% cap · market cap 15.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35601, AL
34,958
Population
15,168
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
77%
High-School Grad
26.5 sq mi
ZIP Area
1,319
Density / Sq Mi
$50,216
Median Household Income
$33,438
Median Earnings
$860
Median Rent
$148,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Finished office space is paired with dedicated storage and a kitchenette area.
Where is this flex space located?
The property is located at 2311 SPRING AVENUE SW Decatur, AL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 40‑by‑60‑foot garage; 2,400‑square‑foot property on a 0.89‑acre parcel; Finished office with private closet, full bathroom and kitchenette area
